Thailand, as one of the most climate-vulnerable countries in the world, faces significant climate and health risks despite contributing less than one per cent of global emissions. Its capital city, Bangkok, is grappling with rising sea levels, record heat and deteriorating air quality due to its geography.
The country of over 70 million recently pledged to reduce its greenhouse gas emissions by 40 per cent by 2030, but it faces an uphill task due to its heavy reliance on fossil fuels, particularly oil and natural gas. Renewable energy currently accounts for 17 per cent of total energy generated, with the government targeting to raise this to 50 per cent by 2050.
Thailand has launched a range of sustainable finance initiatives, including introducing a taxonomy last year, to pivot the Thai financial system towards sustainability and to finance the country’s economic transition. What role will the private sector play in this new evolving landscape? How will the country manage its financial risks stemming from climate change, environmental degradation, governance and social issues?
Eco-Business, in partnership with UNEP FI, are excited to launch the inaugural Thailand edition of Unlocking Capital for Sustainability, which will convene government and business leaders, financial institutions, and civic society to explore strategies and actions that will chart the way forward for the country’s sustainable development.
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